When choosing the best term life insurance policy, there are only a few factors to consider. How much coverage do you need? What is the premium? Is the company reputable? In this guide, we will compare five of the market’s most popular term insurance policies. We will look at the benefits and rates of each policy so that you can make an informed decision about which policy is right for you.
- What Makes The Best Term Life Insurance Policy? (Professional Opinion)
- What Is The Cost Of Term Life Insurance?
- What Are The Benefits Of Term Life Insurance?
- Who Has The Best Term Insurance?
- What is the best term life insurance with A return of premium?
- What Are The Best Term Life Insurance Companies?
- Compare All 5 Term Life Insurance Policies To Get The Best Rates
- Next Steps
- Need Help Getting Life Insurance Coverage?
- Related Reading
- Frequently Asked Questions
What Makes The Best Term Life Insurance Policy? (Professional Opinion)
The two primary factors in determining the best term life insurance plan are the financial rating of the insurance company and the cost of death benefit coverage. All term life insurance policies work the same, so it comes down to ratings and cost.
The best-term life insurance companies are rated A++ (Superior) by AM Best Company, have been in business for over 100 years, and offer policies with level premiums. However, any insurance company with a rating of A or above is a solid choice.
Some people also feel it is essential to choose a term life insurance company with a good reputation and is known for paying claims. While this is not a guarantee that the company will never have financial problems, it is something to consider when choosing a policy.
What Is The Cost Of Term Life Insurance?
The cost of term insurance varies depending on the length of the policy, the amount of death benefit coverage, the age and health of the applicant, and other factors.
Generally, your policy will be cheaper the younger and healthier you are. For example, a healthy 30-year-old man can get a 20-year term insurance policy for about $15 per month. A 40-year-old woman who smokes cigarettes will pay about $35 per month for the same coverage.
What Are The Benefits Of Term Life Insurance?
Term insurance is the most basic type of life insurance. It is designed to provide financial protection for a specific period, such as 20 or 40 years. If you die during the term of the policy, your beneficiaries will receive a death benefit. However, if you do not die during the term, the policy expires, and you do not receive any benefit.
Term life is also the most affordable policy, making it a good choice for people on a budget. It is also simple to understand and does not have the cash value or investment features that whole life insurance policies have.
Who Has The Best Term Insurance?
Protective
Protective offers one of the most popular term life policies on the market. The policy is available for ten to forty years and offers coverage of $100,000 to $50,000,000. The company is rated A+ by AM Best Company and has been in business for 110 years. You can get a life insurance quote from Protective online or by calling their customer service number.
AIG
AIG offers a variety of term insurance policies that are available for terms of ten to thirty-five years. The coverage amounts range from $100,000 to over $1 million. The company is rated A by AM Best Company and has been in business since 1919. You can get a life insurance quote from AIG online or by calling their customer service number.
Lincoln National
Lincoln National is another popular choice for term insurance. The company offers policies with terms of ten to thirty years and coverage amounts of $250,000 to over $1 million. Lincoln National is rated A+ by AM Best Company and has been in business since 1905. You can get a life insurance quote from Lincoln online or by calling their customer service number.
Pacific Life
Pacific Life is a good choice for a term policy. The company offers policies with terms of ten to thirty years and coverage amounts of $50,000 to over $1 million. Pacific Life is rated A+ by AM Best Company and has been in business since 1868. You can get a life insurance quote from Pacific Life online or by calling their customer service number.
Banner Term
Banner Life is another good choice for term insurance. The company offers policies with terms of ten to forty years and coverage amounts of $100,000 to over $1 million. Banner is rated A+ by AM Best Company and has been in business since 1949. You can get a life insurance quote from Banner online or by calling their customer service number.
What is the best term life insurance with A return of premium?
Term insurance with a return of premium is the best type of life insurance to get if you want death benefit coverage for a set period, but with the added benefit of getting your life insurance premiums back if you don’t die during the term. This can be an excellent option for those looking for temporary coverage or for those who want peace of mind knowing their premiums will be returned if they don’t need the coverage.
The best term insurance with a return of premium feature is Assurity and Mutual of Omaha. Shop term life insurance quotes with a return of premium with our free online quoting tool.
What Are The Best Term Life Insurance Companies?
State Farm
State Farm is one of the largest and most well-known insurance companies in the United States. They have been in business for over 100 years and are a trusted name in the industry. State Farm offers a variety of life insurance products, including term life insurance. In addition, they have an excellent reputation for customer service and claims processing. You can get a quote from State Farm online or call their customer service number. Please read our full review of State Farm Life Insurance.
North American
North American Life Insurance Company is another large and well-established insurer. They have been in business for over 150 years and are one of the oldest life insurance companies in the world. North American offers a variety of permanent life insurance policies and term insurance products, including level term, renewable term, and convertible term policies. You can get a quote from North American online or by calling their customer service number.
More Details: North American Term Life Insurance
Lincoln Financial Group
Lincoln Financial Group is a Fortune 500 company that offers a variety of financial products and services, including life insurance. They have an excellent reputation for customer service and claims processing. Lincoln offers several types of term life insurance, including level term, renewable term, and convertible term policies. You can get a quote from Lincoln online or by calling their customer service number.
More Details: Lincoln Term Life Insurance
Banner Life
Banner Life Insurance Company is a subsidiary of Legal & General, a large international financial services company. Banner offers a variety of term life insurance products, including level term, renewable term, and convertible term policies. You can get a quote from Banner online or by calling their customer service number.
More Details: Banner Term Life Insurance
John Hancock
John Hancock is one of the oldest and most well-known life insurance companies in the United States. They have been in business for over 200 years and are a trusted name in the industry. John Hancock offers a variety of term life insurance products, including level term, renewable term, and convertible term policies. You can get a quote from John Hancock online or by calling their customer service number.
More Details: John Hancock Term Life Insurance
Protective
Protective Life Insurance Company is a subsidiary of Dai-ichi Life, a large Japanese financial services company. Protective offers a variety of term life insurance products, including level term, renewable term, and convertible term policies. You can get a quote from Protective online or by calling their customer service number.
More Details: Protective Term Life Insurance
Transamerica
Transamerica is another large insurance company that offers a variety of life insurance products, including term life insurance. They have been in business for over 100 years and are a trusted name in the industry. Transamerica has an excellent reputation for customer service and claims processing. You can get a quote from Transamerica online or by calling their customer service number.
More Details: Transamerica Term Life Insurance
Prudential
Prudential is one of the largest and most well-known insurance companies in the United States. They have been in business for over 150 years and are a trusted name in the industry. Prudential offers a variety of life insurance products, including term life insurance. In addition, they have an excellent reputation for customer service and claims processing. You can get a quote from Prudential online or by calling their customer service number.
More Details: Prudential Term Life Insurance
Pacific Life
Pacific Life Insurance Company is another large and well-established insurer. They have been in business for over 150 years and are one of the oldest life insurance companies in the world. Pacific Life offers a variety of term life insurance products, including level term, renewable term, and convertible term policies. You can get a quote from Pacific Life online or by calling their customer service number.
More Details: Pacific Life Term Life Insurance
AIG
AIG is one of the largest and most well-known insurance companies in the United States. They have been in business for over 100 years and are a trusted name in the industry. AIG offers a variety of life insurance products, including term and permanent coverage. In addition, they have an excellent reputation for customer service and claims processing. You can get a quote from AIG online or by calling their customer service number.
Nationwide
Nationwide is one of the largest insurance companies in the United States. They have been in business for over 80 years and are a trusted name in the industry. Nationwide offers a variety of life insurance products, including term and permanent life insurance. You can get a quote from Nationwide online or by calling their customer service number.
Ethos (Best New Company)
Ethos Life Insurance Company is a relatively new company, but they are quickly making a name for itself in the life insurance industry. Ethos offers a variety of permanent life insurance and term life insurance products, including level term, renewable term, and convertible term policies. You can get a quote from Ethos online or by calling their customer service number.
Compare All 5 Term Life Insurance Policies To Get The Best Rates
While all of these companies are solid term insurance choices, comparing rates and policies is essential before choosing one. It is also important to ensure that the company you choose is rated highly by AM Best Company and has been in business for a long time. You can use an online comparison tool to compare rates and policies to determine the best life insurance company for your needs. Make sure to enter your personal information accurately to get accurate quotes.
Next Steps
At the end of the day, when it comes to finding the best term insurance policies, you need to consider two things: the financial rating of the insurance company and the cost of death benefit coverage. While all term life insurance policies work the same way, finding a reputable company with an excellent financial rating and comparing rates between companies to ensure you get the best deal is essential. Requesting quotes is an easy way to do this, so don’t hesitate to reach out for one today.
Need Help Getting Life Insurance Coverage?
Contact us if you need help purchasing a life insurance policy. The service is free of charge.
Related Reading
- What Is The Best Life Insurance Term?
- The Best Life Insurance
- The Best Whole Life Insurance Policies
- The Best Life Insurance For Children
- The Best Life Insurance For Seniors
- The Best Place To Get Life Insurance Quotes
Frequently Asked Questions
What is the best term life insurance with no medical exam?
Ethos Life Insurance and Sproutt Life Insurance are the best term insurance that requires no medical exam in the application process because they are “A+” rated insurance companies.
Who offers the best term life insurance rates?
Because of their higher maximum coverage levels, affordable rates, and strong financial rating with A.M. Best, Banner Life, AIG, and Pacific Life offers the best term insurance rates.
Who offers the best term life insurance for seniors?
Because of their higher maximum coverage levels, affordable rates, and strong financial rating with A.M. Best, Banner Life, AIG, and Prudential offers the best term insurance for seniors.